3M Co expected to post earnings of $2.31 a share - Earnings Preview

3M Co

19/01/2024 14:32

* 3M Co  MMM.N   MMM  is expected to show a fall in
quarterly
revenue when it reports  results on January 23 for the period
ending December 31 2023
    * The Saint Paul Minnesota-based  company is expected to
report a
4.7% decrease in revenue to $7.702 billion from $8.08 billion a
year ago, according to the mean estimate from 12 analysts, based
on LSEG data.The company's guidance on October 24 2023, for the
period ended December 31, was for revenue between $7.60 billion
and $7.70 billion. (Revenue is on Total/Net/ Adjusted Sales
Basis)
    * ​LSEG's mean analyst estimate for 3M Co is for earnings of
$2.31
per share. The company's EPS guidance on October 24 2023, for
the period ended December 31, was between $2.13 and $2.33 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 16
"hold" and 2 "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for 3M Co is
$111.00​, above​ its last closing price of $106.44. ​​​

The company's guidance on October 24 2023 for the period ended
December 31 was for Earnings before Interest and Taxes between
USD1.558 billion and USD1.617 billion.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Sep. 30 2023  2.35        2.34       2.68      Beat    14.4
 Jun. 30 2023  1.72        1.72       2.17      Beat    26.2
 Mar. 31 2023  1.58        1.58       1.97      Beat    24.4​
 Dec. 31 2022  2.36        2.36       2.28      Missed  -3.5
 ​​Sep.        2.57        2.60       2.69      Beat    3.4
 30 2022                                                
 Jun. 30 2022  2.42        2.42       2.48      Beat    2.6​
 Mar. 31 2022  2.31        2.31       2.65      Beat    14.7
 Dec. 31 2021  2.02        2.01       2.31      Beat    14.8
 This summary was machine generated January 19 at 14:32 GMT.  All
figures in US dollars unless otherwise stated. (For questions
concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com)